Weekly Recap
February 15th, 2021 - Feb 22nd, 2021
Welcome to our 3rd weekly recap for February.
Overview
Crypto News
Just recently, during Microstrategy’s “Bitcoin for Corporations” event, Stone Ridge Asset Management and New York Digital Investment Group (NYDIG) founder, Ross Stevens, explained that he sees a “wall of money” entering the bitcoin space. A week later after that statement, NYDIG has revealed that the company has filed for a bitcoin exchange-traded fund (ETF) and is hoping for regulatory approval.
A government-owned entity in Dubai has started accepting bitcoin, ether and tether as payment for its services, according to local media reports.
A U.S. publicly-listed Chinese sports lottery firm is extending its arms into the crypto industry by announcing another related maneuver. 500.com Ltd announced it has acquired Btc.com, the well known bitcoin mining pool.
Two bitcoin exchange-traded funds (ETFs) have been approved in Canada. Evolve Bitcoin ETF has become the second bitcoin ETF to get approval by Canada’s securities regulator. The first approved bitcoin ETF starts trading Thursday.
According to a website that tracks the price of bitcoin across the globe, the crypto asset’s selling price in Nigeria as of February 18 stood at $ 76,000. At this price, the crypto asset is selling for $20,000 more than the approximately $52,000 that most cryptocurrency exchanges are currently quoting.
The world’s largest asset manager with almost $9 trillion in assets under management, Blackrock, has started investing in bitcoin. Sharing his view on what’s driving up the price of the cryptocurrency, the firm’s chief investment officer says the technology and the regulation have evolved to where people find bitcoin should be part of their portfolios.
The North American Purpose Bitcoin ETF launch on Thursday saw massive demand, as more than $165 million in trade volume was recorded. In fact, the exchange-traded fund listed on the Toronto Stock Exchange (TSX) saw it’s first $80 million swapped during the first hour of trading sessions.
Nvidia announced that it will start limiting the efficiency of mining ethereum or any other crypto using its new range of upcoming graphics processing units (GPUs).
The rollercoaster-ride in cryptocurrency prices on Monday was accompanied by Binance’s fresh restrictions for ethereum and ERC-20 tokens.
